Coin News

FinCEN has fined digital currency startup Ripple Labs as part of its first civil enforcement action against an industry firm.

 Meet ShoCard, a startup that stores your identity onto bitcoin’s blockchain so that you can prove your identity whenever you need to. ShoCard wants to replace cumbersome bank and credit card identification processes with something much more secure and practical. The startup is launching on stage today at Disrupt NY. Read More

Yesterday’s Bitcoin price correction continued in early trade and eventually found chart support at the 200-period moving average (MA). At the time of writing a bounce off the 1-hour 200MA seems to have legs, provided price can hold above the 200MA in the 4-hour chart. This analysis is provided by xbt.social with a 3 hour […]

The post Bitcoin Price Correction Bounces Up appeared first on CryptoCoinsNews.

GetGems' bitcoin-powered messaging service is a striking and entertaining app, even if its most useful features feel secondary in current form.

A recently discovered issue with the client-side SDK of Bitcoin software provider BitGo allows anyone to track all incoming and outgoing transactions taking place on the Bitcoin exchange BitStamp. It was discovered by Bitcoin security firm BlockTrail over the weekend. BlockTrail CTO Ruben De Vries first encountered the issue while conducting analysis on the blockchain, “for our own internal purposes.” He found a group of addresses had the same output, allowing them to be tracked. De Vries identified it as the change address, that is the address created to send any remaining bitcoin leftover from a transaction. “If one is able to correlate trends in deposits and withdraws to the price movement (for example, maybe a high velocity of BTC deposits might indicate […]

The post BitStamp Exchange Activity Trackable due to Multisig Wallet Implementation appeared first on Bitcoin Magazine.

On May 4, The Times of India reported that Halsey Minor, the multi-millionaire entrepreneur and founder/CEO of BitReserve, engaged a meeting with the local regulators for the company’s future plans to launch its services there. “After the U.S., U.K. and China, we want to now set up operations in India, and we are talking to regulators and potential partners on a range of our Internet-based finance offerings,” Minor told Times of India. The aim of the launch in India is to provide users with “direct control of their money,” as Minor plans to offer BitReserve as a “financial inclusion product which can be used for money transfers.” Officially launched in May of 2014, BitReserve is a bitcoin and fiat currency […]

The post CNET Founder to Launch BitReserve in India appeared first on Bitcoin Magazine.

In a bid to become compliant in jurisdictions around the world, Bitstamp has partnered with Vogogo to expand into the US and Canadian markets. The UK-based exchange which handles almost all the Bitcoin trades globally will benefit from this partnership because Vogogo already operates in the US and Canadian markets. Vogogo will be facilitating the […]

The post Bitcoin Exchange Bitstamp Partners with Vogogo to be Globally Compliant appeared first on CryptoCoinsNews.

There's a new cryptocurrency coming to the market. 

What makes it unique to existing cryptocurrencies like Bitcoin?

It's backed by gold.

Anthem Vault, the metals and technology company, will launch the coin on May 25. 

The coin will "be valued at 1 gram of gold at the day's market price, [and] will serve as a more secure store of value than Bitcoin," according to the press release. It will be called the Hayek, "after the Nobel-winning Austrian economist Friedrich Hayek." 

Anthem Blanchard, the CEO of Anthem Vault, told Business Insider that "gold is arguably the most trusted store of value of all time," which is why he chose it to back his new cryptocurrency.

When asked about the recent volatility in the price of gold, Blanchard said, "If you look at last year, gold did go down in dollar terms, but it went up in almost any other currency terms." He also noted that, "Forex has gotten even more volatile, in the last 10-15 years, which is scary to me."

One use case for the Hayek coin, says Blanchard, is an alternative payment system for people in developing countries with volatile currencies. They could pay each other with the equivalent value of gold, if they each had Hayek coin wallets.  

The other use case, he said, is if there is a massive distributed denial of service attack on the modern financial system.

"Talking with friends of mine in the intelligence agencies, they say this is a real threat," he said. An attacker (he used the Russians as an example), "could create a massive DDoS attack, make the [financial] system inoperable. Ultimately this is how we rely on our payments." 

If a big attack hit the computers that clear payments in the banking system, people would be unable to pay for things. Bitcoin and other cryptocurrencies based on the same technology don't work like that. There's a decentralized system of confirming that a payment has been made, so systemic failure is (almost) theoretically impossible.

Eventually, Blanchard would like to branch beyond gold.

“We want to ultimately make every metal spendable. You aren’t going to be able to take practical delivery of plutonium or uranium in your house. But there’s no reason why you couldn’t have ownership of that metal," he said.

Are you ready for plutocoin? 

SEE ALSO: VC veteran Ben Horowitz reveals how Silicon Valley really thinks about diversity in hiring

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Bitcoin gambling site Primedice will shift its focus to Russia and China following its decision to block US and Australia-based customers.

The Transhumanist candidate for President knows that he isn’t going to win in 2016, or at least he’s pretty sure. The party was only founded six months ago, so winning the top office in the land isn’t necessarily the goal at this point. CCN spoke to Zoltan Istvan, a Californian who once sailed the open […]

The post The Transhumanist Party Supports Bitcoin: Zoltan Istvan Running for President appeared first on CryptoCoinsNews.

There's no short, elegant way to describe Bitcoin, but if you put a gun to our heads, we'd say that it was digital gold. That's because the cryptocurrency is based on a limited quantity of resource that is then used as a method of exchange. Unfortuna...

Huobi's new platform lets investors buy real shares on the Shanghai Stock Exchange, while still keeping their bitcoin holdings as collateral.

Coinzone, a Europe-based bitcoin payment solution provider, will soon launch a new bitcoin wallet that will support European currencies. Coinzone has developed the wallet to address privacy and legal frameworks in operation across Europe. It will feature multi-layer verifications. The wallet will launch this summer. Coinzone launched its merchant payment gateway and point-of-sale platform in […]

The post Coinzone Payment Solution To Launch Bitcoin Wallet For European Currencies appeared first on CryptoCoinsNews.

As the world becomes more digital and virtual by the hour, some of the oldest professional industries struggle to keep up with the state of technology in today’s world. Insurance providers have always had to have a personal touch, but as computers continue to take over consumer use more and more, they need to adapt […]

The post Insurance Industry Grapples with Bitcoin’s Past and Potential appeared first on CryptoCoinsNews.

It has been a long time coming, but as of this morning, the publicly traded shares of the Bitcoin Investment Trust have officially started trading under the ticker GBTC. For the first time in bitcoin’s history, bitcoin can now be bought and sold on the public markets. For the past few weeks, there have been multiple bids placed for shares of GBTC, including one by Maxim Capital for 50,000 shares at $35.00/share. However, there hadn’t been any asks, or offers to sell shares. KGA Americas was the first to place a $44.00 ask for 298 shares of GBTC, which is the equivalent to 29.8 bitcoin at around $440.00 per coin. I might have been first to purchase $GBTC, here’s my […]

The post The Bitcoin Investment Trust’s GBTC Begins Trading on Public Markets appeared first on Bitcoin Magazine.

There's no such thing as being too crazy about security, especially when it comes to hoarding mountains and mountains of invisible, digital, volatile money. If that description hits just a little too close to home, you might just have a new friend in...